MIRA INFORM REPORT

 

 

 

Report Date :

20.08.2008

 

IDENTIFICATION DETAILS

 

Name :

ARUNA INDUSTRIES

 

 

Registered Office :

181 D, Industrial Area, Baikampady Mangalore – 575 011, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment  :

1987

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRA03128G

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners.

 

 

Line of Business :

Manufacturers and Marketers of Masala Products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

 

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ananthesh Prabhu

Designation :

Partners

Contact No.:

91-9886043277

Date :

18.08.2008

 

 

LOCATIONS

 

Registered Office/Factory :

181 D, Industrial Area, Baikampady Mangalore – 575 011, Karnataka, India

Tel. No.:

91-824-2407957

Mobile No.:

91-9886043277

Fax No.:

91-824-2408957

E-Mail :

info@arunamasala.com

Website :

www.info@arunamasalas.org

Area :

8000 sq. ft

Location :

Owned

 

 

PARTNERS

 

Name :

Mr. Ananthesh Prabhu

Designation :

Partner

Date of Birth/Age :

28 Years

Qualification :

C.A.

Experience :

4 Years

 

 

Name :

Mr. K Vittal Das Prabhu

Designation :

Partner

Date of Birth/Age :

67 Years

Qualification :

C.A

Experience :

22 Years

 

 

Name :

Mrs. Asha Prabhu

Designation :

Partner

Date of Birth/Age :

61 Years

Qualification :

Graduate

Experience :

22 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and Marketers of Masala Products

 

 

Products :

·         A-1 Chilly Powder

·         Special Chilly Powder

·         Popular Chilly Powder

·         Turmeric Powder

·         Coriander Powder

·         Jeera Powder

·         Pepper Powder 

·         Methi Powder

·         Sambar Powder

·         Rasam Powder

·         Garam Masala Powder

·         Chicken Masala Powder

·         Mutton Masala Powder

·         Bafat Powder (used in Pork preparations)

·         Pickle Powder (used in Pickles)

·         Egg Masala Powder

·         Fish Curry Powder

·         Fish Fry Masala Powder

·         Stew Powder

·         Pav Bhaji Powder

·         Channa Masala Powder

 

 

Brand Names :

“ARUNA”

 

 

Terms :

 

Selling :

Cash and Credit (30 days) Against Payment

 

 

Purchases :

Cash and Credit (30 days)

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers

Retailers

 

  • Institutional Agencies
  • Hotels
  • Leading shops
  • Retail Chains such as Big Bazaar.

 

 

No. of Employees :

45

 

 

Bankers :
  • Syndicate Bank

Address: Car Stand, Mangalore

 

  • HDFC Bank

Address;: Kathri, Mangalore

 

 

Facilities :

The concern donot enjoy facility from it’s Bankers.

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kamath and Associates

Chartered Accountants

Address :

Mangalore – 575 011, Karnataka, India

 

 

Memberships :

P.F.N.D.A.I ( Mumbai)

Activity: Food Product Based Assn

 

 

 

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Available

Borrowed :

Not Available

Total :

Not Available

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2008

31.03.2007

31.03.2006

Sales Turnover

60.000

60.000

50.000

 

 

 

 

 

Expected Sales (2008-09): Rs.70.000 Millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRADE REFERENCE:

 

 

 

WEBSITES DETAILS:

 

COMPANY PROFILE:

 

Subject was established in 1986 as manufacturers of a variety of spice powders. Their company is into manufacturing and packing both direct and blended spice powders. In direct spice powders they have Chilly Powder, Turmeric Powder, Coriander Powder, Jeera Powder, Pepper Powder and Methi Powder. They have for their customer’s three varieties in chilly powders namely A-1 Chilly Powder, Special Chilly Powder and Popular Chilly Powder. A-1 is known for its high quality spices and color whereas Special is slightly milder in flavor having a deeper shade of red. Their other brand Popular is hot in flavor but dull in color. Each brand of theirs is a recognized one and their customers are quite familiar with them. In blended spice powders they have Sambar Powder, Rasam Powder, Garam Masala Powder, Chicken Masala Powder, Mutton Masala Powder, Bafat Powder (used in Pork preparations), Pickle Powder (used in Pickles), Egg Masala Powder, Fish Curry Powder, Fish Fry Masala Powder, Stew Powder, Pav Bhaji Powder, Channa Masala Powder etc.

 

 

PRODUCT RANGE

 

Their wide ranges of products as manufactures are:

 

DIRECT SPICE POWDERS

 

BLENDED SPICE POWDERS

 

 

 

A-1 Chilly Powder

Sambar Powder

Special Chilly Powder

Rasam Powder

Popular Chilly Powder

Garam Masala Powder

Jeera Powder

Chicken Masala Powder

Pepper Powder

Mutton Masala Powder

Methi Powder

Pickle Powder (used in Pickles)

Turmeric Powder

Egg Masala Powder

Coriander Powder

Fish Curry Powder

 

Fish Fry Masala Powder

 

Stew Powder

 

Bafat Powder (used in Pork preparations)

 

Pav Bhaji Powder and Channa Masala Powder

 

Product quality:

 

At their company quality is taken care at the raw material stage right from the procurement to the final production. They have committed their selves to a continuous improvement process geared to provide their customers with only the best. A Quality Control System at their company regularly checks the products by means of specialized techniques. They ensure that their products reach their customers in a superior state with their quality preserved. Due to this, their client base is increasing with their commitment to the product quality.

 

Company Infrastructure:

 

Their organistaion is professionally managed with professionally qualified and competent persons at the helm of affairs. Manufacturing their products requires an excellent infrastructure which they have installed at their company. They have given top priority to hygiene and sanitation and as such have introduced a fully mechanized unit. An in-house testing facility is present at their company to ensure that their products are of international quality standards. Believing that perfection is always a step ahead of them they are continuously striving to produce better product quality.



 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.23

UK Pound

1

Rs.80.89

Euro

1

Rs.63.80

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

45

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions